That sounds like you're talking about a traditional Atkins Diet. I'm not a big fan of those for many reasons that I outline here:http://www.peaktestosterone.com/Atkins_Low_Carb_Diet.aspx
I understand what you're saying about the visceral fat. However, the key to avoiding visceral fat is generally physical activity and exercise as well as limiting stress and increasing sleep. Cortisol will push the fat right to the midsection. But, if you're not active, it's very hard to keep off the pounds. Remember that men tend to gain stomach fat because of our hormonal profiles, so we are very vulnerable to this.
Check out some more information here if you're int'd:http://www.peaktestosterone.com/Visceral_Fat.aspx
The only way to combat it is lots of exercise and activity along with "calorie management" and sleep. I can't emphasize the sleep aspect enough: the more you're awake, the more you eat. And the more tired you are, the more you eat. Studies show that those with less sleep eat around 250 calories more per day I believe and over a year, that's a lot of pounds of fat.
Lack of sleep also increase appetite and raises cortisol and insulin levels, which will "inflate that spare tire":http://www.peaktestosterone.com/Sleep.aspxhttp://www.peaktestosterone.com/Sleep_Erectile_Dysfunction.aspx
Btw, I know you didn't mention sleep, but it's such a common issue that I wanted to include it on the thread...